Southport Acquisition (NYSE:ANGX) Raised to “Strong-Buy” at Texas Capital

Southport Acquisition (NYSE:ANGX) was upgraded by equities research analysts at Texas Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Southport Acquisition in a research note on Monday, December 29th. Roth Mkm began coverage on shares of Southport Acquisition in a report on Tuesday, December 16th. They set a “buy” rating and a $9.00 target price for the company. Wall Street Zen cut shares of Southport Acquisition to a “strong sell” rating in a research report on Thursday, November 20th. B. Riley Financial initiated coverage on shares of Southport Acquisition in a research report on Wednesday. They set a “buy” rating and a $7.00 price target on the stock. Finally, Oppenheimer assumed coverage on shares of Southport Acquisition in a research note on Thursday, December 18th. They set an “outperform” rating and a $8.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.25.

Southport Acquisition Stock Performance

Southport Acquisition stock opened at $3.64 on Tuesday. The firm has a market cap of $613.81 million, a PE ratio of -14.56 and a beta of 0.05. The company has a fifty day moving average of $4.11. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.12. Southport Acquisition has a 1 year low of $2.99 and a 1 year high of $20.39.

About Southport Acquisition

Southport Acquisition Corporation does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify business opportunities in the field of financial software space with a focus on mortgage and real estate verticals. The company was incorporated in 2021 and is based in Del Mar, California.